Tuesday ended an eight-day run of consecutive gains for the Dow Jones.
"A combination of firm growth and higher interest rates is unnerving", said Anthony Chan, chief economist for Chase in NY.
The market had rallied early Monday on hopes that trade tensions were easing between the USA and China. The S&P 600 closed at 982.43 for a gain of 0.30 points or 0.03%.
Oklahoma woman sought in stabbing of daughter, endangering another
Police say the 11-year-old girl is in "very severe condition" in a Tulsa hospital after being repeatedly stabbed. She drives a 2005 Lexus RX-300 SUV with a paper license tag, though she may now be driving a navy Ford sedan.
The yield on the benchmark 10-year note ripped through the four-year high it hit three weeks ago, finishing 9 bps above yesterday's close at 3.08% for its highest close since July 2011, and the two-year yield gained 4 bps to 2.58%, its highest close since July 2008.
Japan's Nikkei 225 stock index lost 0.2 percent to 22,766.69 and the Kospi in South Korea edged less than 0.1 percent lower to 2,457.88.
The S&P 500 rose 2 points, or 0.1 percent, to 2,730. Smaller rival Lowe's Companies Inc was down 1.0%. The Shanghai Composite index dropped 0.3 percent to 3,183.28 and shares in Southeast Asia were lower while Taiwan advanced. The retail sales data suggest that consumers are spending more after a weak first quarter. Some Fed-watchers have been cautioning that any lasting uptick in inflation or economic growth might spur the Fed to pursue an additional rate increase before year's end.
Facial recognition technology is "dangerously inaccurate"
South Wales Police has defended its use of facial recognition software and says the system has improved with time. Police forces have used parts of this database to deploy facial recognition to police crowds at major events.
The rise in bond yields pulled down shares in real estate investment trusts and other high-dividend-paying stocks. It also put investors in the mood to sell stocks in home builders.
The yield, a barometer for mortgage rates and other financial instruments, has jumped recently on signs of rising inflation, which sparked market speculation for more rate hikes later this year. Higher mortgage rates can make it harder for would-be buyers to purchase a home.
The S&P 500 is up 37.84 points, or 1.4 percent. Vaneck Vectors Semiconductor's stock rose 1.7% after the news. Technology and health care sector companies took some of the worst losses. Chip maker Nvidia fell 3.8 percent; drug maker Celgene slid 3.9 percent. Brent crude, used to price global oil, added shed 8 cents to $78.35 a barrel in London.
Salah explains what he must do to reach Ronaldo and Messi's level
Mohamed Salah has recently won the Premier League Player of the Season award as well as the Golden Boot after scoring 32 goals in 36 league games.